Viewed a bright light in the sky, fading in and out until it disappeared.

Two people went out in the backyard and looked up into the sky. We noticed a bright light above the tree line. It looked like a star but we thought maybe a planet. It couldn't have been a planet since it was too close, usually planets are located further up in the sky. The light didn't move for about five minutes, then it started to fade in and out. Then it faded out all together and was gone. We called out for someone else to see what we were seeing. We tried to view the light with binoculars but was unable to make out a form. A total of three people viewed this light. One person was a pilot, they stated it wasn't a plane.